Wed. Oct 21st, 2020

Global stock markets rise on China manufacturing bounce – business live

9.17am GMT

However, the announcement of a successor for Mark Carney as governor of the Bank of England has been postponed until after the general election. Our economics team reports:

With only days to go until parliament is dissolved, the chancellor Sajid Javid has abandoned plans to announce his choice for Threadneedle Street’s top job during the autumn.

The chancellor is believed to have made the decision to delay because he felt that making a choice at a politically sensitive time might damage the independence of the Bank.

Related: New Bank of England governor decision put off until after election

9.16am GMT

The BBC’s business editor Simon Jack reported last night that he’s been told that Dame Minouche Shafik is the top pick for the next Bank of England governor.

She would be the central bank’s first female governor in its 325-year history. The Egyptian-born British-American economist has already worked at the Bank, as deputy governor, and is currently director of the London School of Economics.

NEW: told that Minouche Shafik is THIS govt’s preferred candidate for next Bank of England Governor. No announcement this side of election – cos it would be “politically messy” but if (a big if) this government secures majority – Egyptian born Minouche is current favourite.

Continue reading…Shares across Asia and Europe recover after surprisingly strong China PMI, with UK manufacturing PMI and US jobs data also in focus todaySterling has best month since financial crisis 9.17am GMTHowever, the announcement of a successor for Mark Carney as governor of the Bank of England has been postponed until after the general election. Our economics team reports:With only days to go until parliament is dissolved, the chancellor Sajid Javid has abandoned plans to announce his choice for Threadneedle Street’s top job during the autumn.The chancellor is believed to have made the decision to delay because he felt that making a choice at a politically sensitive time might damage the independence of the Bank. Related: New Bank of England governor decision put off until after election 9.16am GMTThe BBC’s business editor Simon Jack reported last night that he’s been told that Dame Minouche Shafik is the top pick for the next Bank of England governor.She would be the central bank’s first female governor in its 325-year history. The Egyptian-born British-American economist has already worked at the Bank, as deputy governor, and is currently director of the London School of Economics.NEW: told that Minouche Shafik is THIS govt’s preferred candidate for next Bank of England Governor. No announcement this side of election – cos it would be “politically messy” but if (a big if) this government secures majority – Egyptian born Minouche is current favourite. Continue reading…

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